Georgia

CBRE Brokers $7.5M Sale of Shopping Center in Metro Atlanta

by John Nelson February 11, 2015

SUWANEE, GA. — CBRE has brokered the $7.5 million sale of Suwanee Depot, a 68,409-square-foot shopping center in Suwanee, a northern suburb of Atlanta in Gwinnett County. The shopping center is 91 percent leased to a 20,000-square-foot Office Depot, 22,000-square-foot Georgia Fitness, Jackson Hewitt, Lenny’s Subs, Sylvan Learning and a mix of local service and restaurant tenants. Craig Taylor of CBRE’s Atlanta office represented the sellers, Atlanta-based Columbia Properties and New York-based Red Starr. Taylor brokered the sale in conjunction with Auction.com. The buyer was Mahesh Marjani.

February 11, 2015

Georgia Office Southeast

Lincoln Property Co. Southeast Arranges Volkswagen’s Office Lease Renewal in Alpharetta

by John Nelson February 11, 2015

ALPHARETTA, GA. — Lincoln Property Co. Southeast has brokered Volkswagen Group of America’s long-term renewal of its 16,557-square-foot office lease in Alpharetta. The automaker renewed its lease at Two Northwinds, a six-story, 146,972-square-foot Class A office building located at 2520 Northwinds Parkway in Atlanta’s North Fulton submarket. Hunter Henritze and Michael Howell of Lincoln Property Co. Southeast represented the landlord, Equity Office, in the lease transaction. Shannon Newell of JLL represented Volkswagen.

February 11, 2015

Georgia Hospitality Southeast

HREC Brokers Sale of Ramada Limited in Metro Atlanta

by John Nelson February 10, 2015

FOREST PARK, GA. — HREC Investment Advisors has brokered the sale of the 79-guestroom Ramada Limited in Forest Park, roughly 11 miles south of Atlanta down I-75 and approximately five miles south of the Hartsfield-Jackson Atlanta International Airport. The buyer, HR Hotel Management Inc., purchased the hotel for an undisclosed amount. Monty Levy, Jeff Brown and Scott Stephens of HREC Investment Advisors represented the seller, VFC Properties LLC.

February 10, 2015

Savannah Georgia Boutique Hotel River Street

Georgia Hospitality Southeast

Rockbridge to Build Boutique Hotel in Savannah

by John Nelson February 9, 2015

SAVANNAH, GA. — Rockbridge plans to develop a 173-room boutique hotel in Savannah’s Historic District on River Street. With a projected opening in late 2016, the hotel will include a ground-floor restaurant and retail space, 4,000 square feet of meeting space, an upscale swimming pool experience, rooftop bar and on-site parking. Rockbridge will implement its all-king concept for this property, with 82 double king rooms, 66 kings and 25 suites. The hotel is located on the site of the oldest bottleworks factory in America and will incorporate historic bricks and bottles from the site in the development. Rockbridge has been working with city leaders to design and construct the first public, ADA-accessible pedestrian stairway and elevator to the river adjacent to the property. Plans include very wide, safe stairs and an elevator with new streetscaping and lighting enhancements.

February 9, 2015

Georgia Loans Multifamily Southeast

Grandbridge Arranges $4.9M Loan for Two Apartment Communities in South Georgia

by John Nelson February 6, 2015

VALDOSTA, GA. — Grandbridge Real Estate Capital has arranged a $4.9 million loan secured by The Timbers Apartments and Heather Glen Apartments in Valdosta. Bill Mattice of Grandbridge arranged the refinance loan through Freddie Mac. The loan features a seven-year term, 30-year amortization schedule and one year of interest-only payments. Both properties are fully occupied, according to Mattice.

February 6, 2015

Georgia Multifamily Southeast

Blue Rock Partners, Rose Group Acquire Metro Atlanta Apartment Community for $15.8M

by John Nelson February 5, 2015

LITHONIA, GA. — A partnership between Tampa-based Blue Rock Partners LLC and Boca Raton, Fla.-based Rose Group has purchased Devon Place, a 415-unit apartment community located at 421 Meadowood Drive in the Atlanta submarket of Lithonia, for $15.8 million. The partnership will invest another $2.5 million in exterior and interior upgrades. Eastern Union Funding arranged acquisition financing on behalf of Blue Rock and Rose Group through The Bancorp. Multi Housing Advisors’ Atlanta office brokered the transaction. Devon Place is Blue Rock’s second Atlanta apartment acquisition in the past three months, having acquired the 240-unit Oak at Ellenwood apartments in November for $9.8 million.

February 5, 2015

Georgia Office Southeast

Mercedes-Benz USA Announces Details of New Corporate HQ in Atlanta

by John Nelson February 4, 2015

ATLANTA — Mercedes-Benz USA (MBUSA) has announced the permanent and interim locations for its new corporate headquarters in Atlanta. MBUSA, which is currently headquartered in Montvale, N.J., will construct a new headquarters facility on a 12-acre greenfield site located at the corner of Abernathy and Barfield roads in Sandy Springs, expected to be completed in early 2018. As part of the relocation, the automaker plans to hire hundreds of new employees from the Atlanta area at its new headquarters, which is set near the intersection of Georgia 400 and I-285. Beginning July 2015, the company will move into temporary office space at Sterling Pointe II, a 186,000-square-foot, Class A office building at the Perimeter Center complex in the neighboring city of Dunwoody.

February 4, 2015

Georgia Multifamily Southeast

Novare Group, Batson-Cook Break Ground on 32-Story Atlantic House in Atlanta

by John Nelson February 4, 2015

ATLANTA — Novare Group and Batson-Cook Development Co. have broken ground on Atlantic House, a new 32-story luxury apartment tower located on the corner of 14th and West Peachtree streets in Midtown Atlanta. Designed by the architectural firm Smallwood, Reynolds, Stewart and Stewart, Atlantic House will feature elements of natural stone, precast concrete and glass. Atlantic House will feature two rooftop pools, a fitness center, clubroom, business center and outdoor patio space as well as a grilling area, tennis court and dog park on top of the attached parking garage. The project will also have 13,124 square feet of retail along 14th and West Peachtree streets. The luxury tower will have 407 units, ranging from studio to two-bedrooms that will feature nine-foot ceilings with floor-to-ceiling glass, granite countertops, hardwood floors, stainless steel appliances and ceramic tile. The top six floors will feature 68 one- and two-bedroom apartment homes featuring larger floor plans, 10-foot ceilings, quartz countertops, double-sink vanities and half baths. Novare Group and Batson-Cook Development are partnering with UBS Global Realty Advisors for Atlantic House. Wells Fargo is providing construction and permanent financing for the project, and NGI Investments LLC is providing equity. Batson-Cook Construction is the general contractor. …

February 4, 2015

Monarch301 Statesboro Georgia Progress Student Living

Georgia Multifamily Southeast Student Housing

Progress Student Living Sells Two Student Housing Communities in North Carolina, Georgia

by John Nelson January 30, 2015

STATESBORO, GA. AND WILMINGTON, N.C. — Progress Student Living has sold two luxury student housing communities that it developed recently in North Carolina and Georgia. Sold in the portfolio transaction were Progress910, a 168-unit rental community with 528 bedroom/bathroom suites near the University of North Carolina Wilmington (UNCW) in Wilmington, and Monarch301, a 180-unit rental community with 546 bedroom/bathroom suites near Georgia Southern University in Statesboro. Progress 910 was completed in August 2014, while Monarch301 was finished in August 2013. Each property is currently 97 percent occupied. Ryan Reid and Ryan Lang of CBRE’s national student housing group in Dallas brokered the two transactions. According to media reports, Santa Barbara, Calif.-based Phillips Acquisitions was the buyer. The transaction price was not disclosed.

January 30, 2015

Georgia Industrial Southeast

CenterPoint Completes Container Yard for KW International in Savannah

by John Nelson January 29, 2015

SAVANNAH, GA. — CenterPoint Properties has completed a 3.1-acre container yard for KW International, an international third-party logistics provider, at CenterPoint Intermodal Center–Savannah. John Neely and Danny Chase of Colliers International represented CenterPoint and KW International, respectively, in the lease transaction. KW International’s new facility is located four miles from the Georgia Ports Authority, adjacent to Highway 307 and within minutes of I-95 and I-16. Facility features include a 900-square-foot office, 105 trailer parking stalls and 12 car-parking stalls. KW International began operations at the build-to-suit property on Jan. 1.

January 29, 2015

Newer Posts

Older Posts